Blink CEO Speaks Out: We Don't Rely on Government Financial Aid for Our Operations
It looks like the big guns in electric-vehicle charging aren't sweating President Trump's recent moves on EV incentive programs and tariffs. Executives from Blink Charging, ChargePoint, and EVgo have been fielding questions about the matter in recent conferences and earnings calls.
The most recent discussions revolve around the 37th annual Roth Conference on March 18, where Blink Charging's new CEO, Mike Battaglia, addressed the non-impact of the ongoing suspension of the National Electric Vehicle Infrastructure (NEVI) on their business.
"I want to make it crystal clear that Blink doesn't bank on subsidies," Battaglia stated. "Our expansion isn't hinged on government funding. We thrive on the commercial viability of what we do."
Battaglia's statements reflect his perspective from Blink's March 13 Q4 results conference call, where he mentioned minimal exposure to NEVI, focusing more on its UK counterpart LEVI instead. Rather than the large-scale, interconnected nature of NEVI, LEVI helps local authorities in England plan and deliver charging infrastructure for residents without off-street parking.
As for tariffs, Battaglia shared that his team doesn't expect them to be a significant burden on Blink's gross margins since the company sources most of its materials and components in the United States and India, where its production facilities are located.
The sentiments echoed by Battaglia were shared by CEOs of both EVgo and ChargePoint. While discussions about tariffs were minimal at the Roth gathering, Battaglia and the EVgo CEO, Badar Khan, both expect "minimal impact" from tariffs and NEVI losses.
Interestingly, Battaglia brought up the Community Fueling and Infrastructure (CFI) program as a favorable one under NEVI, focusing on placing a mix of Level 2 and DC fast chargers in community areas where it is needed most, based on EV registrations.
In the context of Trump's policies, the electric-vehicle charging industry could face increased costs due to potential tariffs on imported materials. However, considering the companies' comments, their expanded manufacturing footprints, and the commercial viability of their services, the overall impact seems manageable.
To better comprehend the broad implications of Trump's policies on the EV charging sector, one should consider the potential effects of reduced or eliminated EV tax credits, increased costs due to tariffs, and the industry's ongoing efforts to commercialize and expand their services beyond government funding.
The first sentence: "Despite the ongoing discussions about President Trump's policies on EV incentive programs and tariffs, executives from Blink Charging, ChargePoint, and EVgo have expressed confidence that their businesses can thrive without relying heavily on government funding or subsidies."
The second sentence: "In the face of potential tariffs on imported materials, these companies are expanding their manufacturing footprints, particularly in the U.S. and India, to mitigate any significant impact on their costs and gross margins."
